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(USA Today)   Austerity has strengthened the UK's economy so much that Moody's is downgrading its credit rating   (usatoday.com) divider line 197
    More: Obvious, Moodys, credit rating, Houses of Parliament, Moody's Investors Service  
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798 clicks; posted to Politics » on 23 Feb 2013 at 10:37 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-23 02:19:46 AM  
I didn't fully realize that the Brits were trying to layoff their way to prosperity.  Yeah, that's what happens when you try that.
 
2013-02-23 04:42:56 AM  
That article forgot to point out Keynesian economics doesn't work.
 
2013-02-23 05:27:13 AM  
or maybe it was just too little too late
 
2013-02-23 06:56:37 AM  
Why didn't this make the news? Especially this week.
 
2013-02-23 07:56:38 AM  

johnryan51: Why didn't this make the news? Especially this week.


I think it's because everyone on this side of the Atlantic is too busy laughing at Ted Cruz.
 
2013-02-23 08:11:04 AM  
Yeah, austerity is what did it.

Just like the rampant austerity here in the US did it.

Only the Libs could come up with austerity being a cause of fiscal problems. Socialism is the only cure.
 
2013-02-23 08:40:49 AM  
GDP: C+I+G+X-M


/Math is hard.
 
2013-02-23 09:35:02 AM  

Speaker2Animals: That article forgot to point out Keynesian economics doesn't work.


apart from the fact that it has worked very well in the past, you mean? specifically, from 1933 to about 1970 or so.
 
2013-02-23 09:37:11 AM  
IamKaiserSoze!!!:

Only the Libs could come up with austerity being a cause of fiscal problems. Socialism is the only cure.

It's not that hard.  Spend more, economic activity goes up, tax revenues go up. Spend less, economic activity tanks, tax revenues go down.

The question is how to properly manage it and to remember to cut spending and increase taxes when the recession is over to pay it back, but that requires some critical thinking that isn't a simple binary equation, so no wonder some people have problems with it.
 
2013-02-23 09:41:01 AM  

Alphax: I didn't fully realize that the Brits were trying to layoff their way to prosperity.  Yeah, that's what happens when you try that.


The Brits created Austerity.

IamKaiserSoze!!!: Yeah, austerity is what did it.

Just like the rampant austerity here in the US did it.

Only the Libs could come up with austerity being a cause of fiscal problems. Socialism is the only cure.


Find me an instance where Austerity caused a net increase in GDP.  I ask this because I'm fully aware that it has never happened.
 
2013-02-23 09:41:30 AM  

weave: IamKaiserSoze!!!:

Only the Libs could come up with austerity being a cause of fiscal problems. Socialism is the only cure.

It's not that hard.  Spend more, economic activity goes up, tax revenues go up. Spend less, economic activity tanks, tax revenues go down.

The question is how to properly manage it and to remember to cut spending and increase taxes when the recession is over to pay it back, but that requires some critical thinking that isn't a simple binary equation, so no wonder some people have problems with it.


But govt spends more on things that will get them elected versus what the majority of the public wants. Private sector spends things on products and services that people want.

Austerity typically means cutting back on vote buying programs.
 
2013-02-23 09:41:33 AM  

SlothB77: or maybe it was just too little too late


How do you figure?
 
2013-02-23 09:42:22 AM  

IamKaiserSoze!!!: But govt spends more on things that will get them elected versus what the majority of the public wants.


This legitimately makes no sense.
 
2013-02-23 09:45:52 AM  

IamKaiserSoze!!!: But govt spends more on things that will get them elected versus what the majority of the public wants.


HOW DARE THE PEOPLE ACT IN THEIR OWN INTERESTS?
 
2013-02-23 09:45:56 AM  

IamKaiserSoze!!!: Austerity typically means cutting back on vote buying programs.


Like infrastructure projects? Those filthy f*cking liebrals with their roads and bridges! Those monsters!
 
2013-02-23 09:48:50 AM  

NewportBarGuy: IamKaiserSoze!!!: Austerity typically means cutting back on vote buying programs.

Like infrastructure projects? Those filthy f*cking liebrals with their roads and bridges! Those monsters!


And retirements for old people! 75 year olds should get a job! They're so lazy!
 
2013-02-23 10:00:48 AM  

NewportBarGuy: IamKaiserSoze!!!: Austerity typically means cutting back on vote buying programs.

Like infrastructure projects? Those filthy f*cking liebrals with their roads and bridges! Those monsters!


Yeah, how much went to roads and bridges?

Wade through all the rest of the crap that went to repay political favors and buy votes.

http://www.propublica.org/special/the-stimulus-plan-a-detailed-list- of -spending
 
2013-02-23 10:04:26 AM  

IamKaiserSoze!!!: NewportBarGuy: IamKaiserSoze!!!: Austerity typically means cutting back on vote buying programs.

Like infrastructure projects? Those filthy f*cking liebrals with their roads and bridges! Those monsters!

Yeah, how much went to roads and bridges?

Wade through all the rest of the crap that went to repay political favors and buy votes.

http://www.propublica.org/special/the-stimulus-plan-a-detailed-list- of -spending


Your position is that a 2009 stimulus was a plan to buy votes in 2012?

Why not just have the stimulus in 2012, then? A lot of sh*t could happen between 2009 and 2012
 
2013-02-23 10:16:30 AM  

cameroncrazy1984: IamKaiserSoze!!!: NewportBarGuy: IamKaiserSoze!!!: Austerity typically means cutting back on vote buying programs.

Like infrastructure projects? Those filthy f*cking liebrals with their roads and bridges! Those monsters!

Yeah, how much went to roads and bridges?

Wade through all the rest of the crap that went to repay political favors and buy votes.

http://www.propublica.org/special/the-stimulus-plan-a-detailed-list- of -spending

Your position is that a 2009 stimulus was a plan to buy votes in 2012?

Why not just have the stimulus in 2012, then? A lot of sh*t could happen between 2009 and 2012


It was passed in 09 and doled out for several years. A fraction went to the private sector, unless you consider the green industry to be private sector. That segment will evaporate as soon as the govt subsidies disappear.
 
2013-02-23 10:17:42 AM  

IamKaiserSoze!!!: Yeah, how much went to roads and bridges?



Transportation and Infrastructure: $98,325,000,000

Is this a trick question?
 
2013-02-23 10:19:04 AM  

IamKaiserSoze!!!: It was passed in 09 and doled out for several years. A fraction went to the private sector, unless you consider the green industry to be private sector. That segment will evaporate as soon as the govt subsidies disappear.


And if this is buying votes, why aren't tax cuts also vote buying?
 
2013-02-23 10:38:49 AM  

FlashHarry: Speaker2Animals: That article forgot to point out Keynesian economics doesn't work.

apart from the fact that it has worked very well in the past, you mean? specifically, from 1933 to about 1970 or so.


My sarcasm wasn't clear enough, I guess.
 
2013-02-23 10:40:05 AM  

SlothB77: or maybe it was just too little too late


Much like this greenlight.

C'mon Fark, this happened yesterday. What took you guys so long?
 
2013-02-23 10:41:54 AM  
That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.
 
2013-02-23 10:41:58 AM  

IamKaiserSoze!!!: Yeah, austerity is what did it. Just like the rampant austerity here in the US did it.


You're about to find out if sequestration actually happens.
 
2013-02-23 10:41:59 AM  

NewportBarGuy: IamKaiserSoze!!!: Yeah, how much went to roads and bridges?


Transportation and Infrastructure: $98,325,000,000

Is this a trick question?


All I need to see are the new highways around me that have been built thanks to the Stimulus to see whether or not the Stimulus was money well spent
 
2013-02-23 10:42:44 AM  
 
2013-02-23 10:44:20 AM  

FlashHarry: Speaker2Animals: That article forgot to point out Keynesian economics doesn't work.

apart from the fact that it has worked very well in the past, you mean? specifically, from 1933 to about 1970 or so.


The only parts of Keynsian economics that work are the parts he bootlegged from Carl Menger (the theory of marginal utility, anybody?).
 
2013-02-23 10:47:43 AM  

IamKaiserSoze!!!: Yeah, austerity is what did it.

Just like the rampant austerity here in the US did it.

Only the Libs could come up with austerity being a cause of fiscal problems. Socialism is the only cure.


Not only this, but you could make a good argument that the Liberals tricked the Conservatives into taking a strategy that was guaranteed to fail (austerity) in every single metric (no, the deficit would be lower if the economy were better), no matter how much time was given. Why do the Liberals trick everyone to make them fail?
 
2013-02-23 10:51:06 AM  

DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.


There was one time it worked. Reagan massively increased government spending to a point never seen before, and it pulled us out of the economic rut we were in.
 
2013-02-23 10:54:50 AM  

IamKaiserSoze!!!: Yeah, austerity is what did it.

Just like the rampant austerity here in the US did it.

Only the Libs could come up with austerity being a cause of fiscal problems. Socialism is the only cure.


Why dont we give it a try to find out?

hhmmmm?
 
2013-02-23 10:55:27 AM  

DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.


That's an impressively citation-free post.
 
2013-02-23 10:59:09 AM  
Just keep screaming to yourself that it's not the fault of liberal style policies.

You have to scream in order to drown out of the voice of common sense in your head.
 
2013-02-23 11:01:28 AM  
Who would have thought that, in a period of high unemployment and low spending, deliberately cutting jobs and pulling money out of the economy would have had a negative effect?
 
2013-02-23 11:04:26 AM  

digistil: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

There was one time it worked. Reagan massively increased government spending to a point never seen before, and it pulled us out of the economic rut we were in.


also with Bush 2

thinkprogress.org
 
2013-02-23 11:07:01 AM  

IamKaiserSoze!!!: Yeah, austerity is what did it.

Just like the rampant austerity here in the US did it.

Only the Libs could come up with austerity being a cause of fiscal problems. Socialism is the only cure.


How'd that compassionate conservative fiscal conservativism with deregulation that took us from a surplus to a global economic crash working out for ya?
 
2013-02-23 11:09:21 AM  

digistil: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

There was one time it worked. Reagan massively increased government spending to a point never seen before, and it pulled us out of the economic rut we were in.


No... it's part of the cause of the mess we're in now. As I said, it just pushes the problem into the future and makes the inevitable crash worse when it finally does hit. We haven't had a strong economy since the mid-late 1960s.
 
2013-02-23 11:10:17 AM  

randomjsa: Just keep screaming to yourself that it's not the fault of liberal style policies.


which ones? and under which leadership?
 
2013-02-23 11:10:43 AM  

dumbobruni: digistil: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

There was one time it worked. Reagan massively increased government spending to a point never seen before, and it pulled us out of the economic rut we were in.

also with Bush 2

[thinkprogress.org image 474x403]


Debt and accounting gimmicks are not a strong economy. All they've been doing is pushing the problem into the future.
 
2013-02-23 11:11:26 AM  
Don't you guys all know it is not the theory that counts but whose side you are on?

www.myqwip.com
(click to vote in new window)
 
2013-02-23 11:11:40 AM  

Thats No Moose: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

That's an impressively citation-free post.


Look around you. Read the newspaper. There's your citation.
 
2013-02-23 11:12:00 AM  

DrPainMD: dumbobruni: digistil: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

There was one time it worked. Reagan massively increased government spending to a point never seen before, and it pulled us out of the economic rut we were in.

also with Bush 2

[thinkprogress.org image 474x403]

Debt and accounting gimmicks are not a strong economy. All they've been doing is pushing the problem into the future.


and yet, its all the fault of liberals. as randomjsa insists.
 
2013-02-23 11:12:48 AM  

DrPainMD: We haven't had a strong economy since the mid-late 1960s.


we haven't had much income growth since 1980, that explains the week economy and it also falls entirely on the private sector.
 
2013-02-23 11:12:55 AM  

DrPainMD: Thats No Moose: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

That's an impressively citation-free post.

Look around you. Read the newspaper. There's your citation.


I like that. "You want a citation? THE NEWSPAPERS."
 
2013-02-23 11:16:24 AM  

qorkfiend: I like that. "You want a citation? THE NEWSPAPERS."


Study it out.
 
2013-02-23 11:21:09 AM  

qorkfiend: DrPainMD: Thats No Moose: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

That's an impressively citation-free post.

Look around you. Read the newspaper. There's your citation.

I like that. "You want a citation? THE NEWSPAPERS."


Palin-like typing detected.
 
2013-02-23 11:21:28 AM  

IamKaiserSoze!!!: Yeah, austerity is what did it.

Just like the rampant austerity here in the US did it.

Only the Libs could come up with austerity being a cause of fiscal problems. Socialism is the only cure.


Tell me again about how trickle-down economics will save us all.

qorkfiend: DrPainMD: Thats No Moose: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

That's an impressively citation-free post.

Look around you. Read the newspaper. There's your citation.

I like that. "You want a citation? THE NEWSPAPERS."


Apparently they're incapable of printing lies!!...is what I keep hearing when the idea of getting your news online comes up...
 
2013-02-23 11:21:51 AM  

DrPainMD: Thats No Moose: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

That's an impressively citation-free post.

Look around you. Read the newspaper. There's your citation.


All of them?
 
2013-02-23 11:21:55 AM  

DrPainMD: Thats No Moose: DrPainMD: That's the whole point. "Stimulus" just moves the inevitable crash into the future and makes it worse. Nobody said that cutting spending would immediately boost the economy, but it will fix it; the fix is going to be very painful.

That's an impressively citation-free post.

Look around you. Read the newspaper. There's your citation.


So much this. If you don't care enough about your country to study it and follow the people that will tell you the truth, than your probably not deserving of citizenship. MSNBC, CNN, ABC, CBS, NBC, Jon Stewart, MTV, NY Times, LA Times, they all feed you lies to keep you sheep inline so you don't cause a disturbance.
 
2013-02-23 11:23:04 AM  

Mrtraveler01: SlothB77: or maybe it was just too little too late

Much like this greenlight.

C'mon Fark, this happened yesterday. What took you guys so long?


Dude, I submitted this about twelve hours ago. It's not my fault the Farkmins were sleeping when I was already starting my slavishly long work day.

/subby
 
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